Saint Charles, Madison County, Iowa Property Taxes
The median property tax rate in Saint Charles, IA is 1.45%, which is considerably higher than both the national median of 0.99% and the Iowa state median of 1.54%. With the median home value in Saint Charles at $222,500, the typical annual property tax bill reaches $3,170, exceeding the national median of $2,690. Property taxes in Saint Charles are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Saint Charles's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Saint Charles or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint Charles, Madison County, Iowa Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.45%
Estimate Property Tax Bill
$3,226
$2,994
Ownwell’s SAINT CHARLES Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SAINT CHARLES with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SAINT CHARLES to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Saint Charles, Madison County, Iowa
Property taxes in Saint Charles, Iowa, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Charles is 1.45%, significantly higher than the U.S. national median of 0.99%. Local government entities within Saint Charles set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Charles estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Saint Charles's effective property tax rate to other areas in Madison County and the national median. For comparison, the zip code 50240 has both the highest and the lowest median property tax rate of 1.45%. Understanding how these cities compare with Saint Charles provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Charles Tax Rate
1.45%
Average Madison County Tax Rate
1.44%
Average Iowa Tax Rate
1.54%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Charles, Madison County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50240 | 1.26% | 1.35% | 1.45% | 1.57% | 1.67% |
Source: Ownwell
Property Tax Assessment Values Across Saint Charles, Madison County, Iowa
In Saint Charles, Iowa, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Madison County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Saint Charles, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Saint Charles helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 50240 has the highest median tax bill at $3,170.
Property Tax Assessment Values Across Saint Charles, Madison County, Iowa
Source: Ownwell
$27,000
$230,650
$434,300
Average Saint Charles Assessed Value
$222,500
Average Madison County Assessed Value
$216,500
Average Iowa Assessed Value
$167,100
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Charles, Madison County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50240 | $92,570 | $155,225 | $222,500 | $333,875 | $455,670 |
Source: Ownwell
Property Tax Bills Across Saint Charles, Madison County, Iowa
In Saint Charles, Madison County, IA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Homeowners in Saint Charles can expect their tax bills to vary significantly, from the 25th percentile at around $2,212 to the 75th percentile at approximately $4,802, with the 90th percentile reaching up to $6,360. The median home price in the area is $222,500, which can give homeowners an idea of what to expect in terms of property taxes. It's important to note that the national median property tax rate is 0.99%, so comparing this to local rates can help homeowners understand their tax burden. These property tax bills play a crucial role in funding local services such as schools, infrastructure, and emergency services, directly affecting the quality of life and property values in the community.
Average Saint Charles Tax Bill
$3,170
Average Madison County Tax Bill
$3,138
Average Iowa Tax Bill
$2,508
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Charles, Madison County, Iowa
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 50240 | $1,294 | $2,212 | $3,170 | $4,802 | $6,360 |
Source: Ownwell